Economy – Page 209 – City Business News

November 8, 2022 No Responses

Nigeria, 99 Others Back Agreement Against Illegal, Unregulated Fishing

Global action to fight illegal, unreported and unregulated (IUU) fishing has intensified as Nigeria and 99 other countries have now committed to the UN Food and Agriculture Organisation’s Agreement on Port State Measures (PSMA). The PSMA is the first binding...

November 7, 2022 No Responses

AfDB Mobilises $31b Investment Interest

The African Development Bank (AfDB), has drawn 31 billion dollars in investment interest from African and global investors. In a statement issued by the Communication and External Relations unit of the AfDB, President of the bank, Dr Akinwumi Adesina sai...

November 6, 2022 No Responses

FIRS Boss: Dialogue Crucial In Strengthening Tax Administration

Tax dialogue is a tool for engendering tax compliance as well as means of strengthening tax systems, the Executive Chairman, Federal Inland Revenue Service (FIRS), Muhammad Nami, has said. Nami said this at the 2022 Kaduna State Tax Dialogue, held...

November 6, 2022 No Responses

COVID-19: Akwa Ibom Disburses N31m Grant To 401 Beneficiaries

The Akwa Ibom Government on Saturday disbursed N31 million to 401 entrepreneurs in Small and Medium Enterprises (SMEs), to support their businesses affected by the COVID-19 pandemic. The News Agency of Nigeria (NAN) reports that the funds which wer...

November 4, 2022 No Responses

Manufacturers Seek End To forex, Energy Crisis

The Manufacturers Association of Nigeria (MAN), on Thursday, tasked the Federal Government and monetary authorities to address the foreign exchange and energy crises responsible for the unfavorable movements in manufacturing indicators. Mr Segun Ajayi-Ka...

November 4, 2022 No Responses

Market Capitalisation Drop By N25b

The equity market extended losses on Thursday as the market capitalisation shed N25 billion or 0.10 per cent to close at N24.094 trillion from the 24.119 trillion on Wednesday. Similarly, the All-Share Index dipped by 46.32 points or 0.10 per...

November 4, 2022 No Responses

Sterling Bank Reaffirms Commitment To Agriculture

Chief Executive Officer (CEO) of Sterling Bank Plc, Mr. Abubakar Suleiman has said the bank is ready and willing to invest more in Nigeria’s agricultural sector, having invested more than N100 billion; a figure that represents about 15 percent of...

November 2, 2022 No Responses

World`s Ten Most Indebted Countries

Covid-19 has pushed many states’ debts above annual income, causing the global government debt to reach new record highs. According to the S&P Global Ratings report, the combined debt of all governments worldwide is expected to climb by 9.5% ...

November 2, 2022 No Responses

NPA Inaugurates Export Processing Terminal In Lagos

The Nigerian Ports Authority (NPA), on Tuesday, inaugurated export processing terminal, Diamond Star Export Processing Terminal in Lagos. The terminal situated at Lilypond in Ijora, would ensure speedy and seamless processing of export cargoes accessing ...

November 2, 2022 No Responses

Blue Economy Takes Centre Stage As NIMASA Organizes Senior Management Strategy Session

As part of efforts to review performance and strategize to achieve its mandate the Management of the Nigerian Maritime Administration and Safety Agency, NIMASA has organized a 3-day Management strategic session. Speaking during the opening of...

November 1, 2022 No Responses

Reps Panel Accuses Oil Firms Of Tax Evasion

The House of Representatives ad hoc committee investigating the structure and accountability of the Joint Venture (JV) businesses and production sharing contracts (PSCS) of the Nigerian Petroleum Corporation (NNPC) has accused oil companies of tax evasion.&nbs...

October 30, 2022 No Responses

Expert Tasks Bankers On Infrastructure Funding

An infrastructure specialist, Mr Opuiyo Oforiokuma, has urged bankers to come up with a plan to fund infrastructure in Nigeria. Oforiokuma, a Senior Partner at Africa50 Infrastructure Acceleration Fund, gave the advice at the 2022 Fellowship Investiture ...

October 29, 2022 No Responses

Investors Lose N388b On NGX

The Nigerian Exchange Ltd. (NGX) declined further on Friday as market capitalisation depreciated by N388 billion or 1.6 per cent to close at N23.918 trillion from N24.306 trillion on Thursday. Also, the All-Share Index (ASI) fell by 712.54 points or...

October 29, 2022 No Responses

Naira Weakens Further To Dollar At Investors, Exporters Window

The Naira on Friday exchanged at N444.75 to the dollar at the Investors and Exporters window, a depreciation of 0.06 percent, compared with N444.50 to the dollar it exchanged on Thursday. The open indicative rate closed at N443 to the...